Stellantis and leading metals recycler Galloo today announced they have signed a Memorandum of Understanding to enter exclusive talks to create a joint venture focused on parts and material recycling from end-of-life vehicles. The preliminary deal is part of the carmaker's strategy to expand its so-called "circular economy" business, which includes vehicle reconditioning and dismantling as well as reuse of parts and materials,​ such as metals, plastics, and batteries. The Stellantis-Galloo joint venture will work with selected authorised treatment facilities to collect ELVs from the last owner, enabling the recovering of parts for reuse, remanufacturing, and recycling. The service is expected to launch at the end of 2023 with an initial focus on France, Belgium and Luxembourg, and then expanding across Europe.​ The joint venture will also address the growing demand for EV batteries, which are expected to reach 400 GWh per year by 2030​ in Europe. The joint venture will develop a process to recover and reuse the materials from EV batteries, such as lithium, cobalt, nickel, and manganese. These materials can then be used to produce new batteries or other products, reducing the need for mining and imports. The joint venture is expected to be operational by the end of 2023, subject to regulatory approvals and other customary conditions.​ The JV will offer its services to Stellantis and other automakers. Galloo specialises in the dismantling of cars and ships. #circulareconomynews #circulareconomy #recycle